How China’s BYD Overtook Tesla [The Full Story]

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BYD's Rise as the Leading EV Manufacturer

BYD, a Chinese car brand, has surpassed Tesla as the world's largest electric vehicle (EV) manufacturer.
BYD's success is attributed to its focus on efficiency, safety, and affordability, in contrast to other Chinese brands that prioritize gimmicks.
BYD's EV sales have made significant strides globally, particularly in Israel, Thailand, and Southeast Asia.
The company plans to start producing electric cars in Europe by 2025 and is scouting locations in France, Spain, and Germany.

BYD started as a battery-making company in 1995 and became the world's second-largest producer of rechargeable batteries by 2002.
In 2003, BYD acquired a struggling company called Tsin Chuan and established an R&D center in Shanghai, adopting a strategy of imitating, learning, and producing.
BYD's domestic sales skyrocketed in 2006, primarily with gasoline vehicles, and the company introduced its first electric vehicle in 2008.
Warren Buffett's Berkshire Hathaway invested in BYD in 2008, and the investment has yielded significant returns.
BYD's market capitalization as of January 2024 is impressive, reflecting its meteoric growth and success.

BYD's success can be attributed to robust support from the Chinese government, including generous tax breaks and incentives for EV makers and buyers.
BYD has shown genuine innovation, such as the creation of the Cobalt-free blade battery, which is safer and more stable than traditional lithium-iron batteries.
BYD practices vertical integration, owning the vast majority of its supply chain, which allows for cost reduction, improved quality, and faster innovation compared to competitors.
BYD's vehicles are price-competitive, with models like the BYD Seagull starting at around $10,000, making them more affordable than competitors like Tesla.
Despite concerns about quality, BYD's vehicles have improved significantly in recent years and meet Euro NCAP five-star safety ratings.

BYD has faced challenges such as a child safety seat compliance issue in Australia and an ongoing anti-subsidy probe by the European Commission.
BYD's growth has been remarkable, outpacing Western counterparts, and the company is poised to become a major player in the global EV market.